The tenure of President Andrés Manuel López Obrador in Mexico has seen public investment hit record lows since the 1990s. Data from the National Institute of Geography and Statistics shows that public investment as a percentage of GDP averaged 2.7% during his administration, the lowest since Ernesto Zedillo’s presidency.
While private investment reached its highest level in the last five presidential terms at 19.6% of GDP, public investment declined significantly. Mexican officials and business leaders emphasize the importance of maintaining total investment at 25% of GDP for sustainable growth, with the government contributing at least 5 percentage points.
A Comparative Analysis
Despite major infrastructure projects like the Maya Train and Olmeca Refinery, public investment under AMLO has been lower than in the previous administrations, particularly in sectors like energy, communications, and education. Economist Carlos Ramírez highlights the lack of public works stimulus in certain regions and questions the impact on Mexico’s infrastructure and economic growth.